Hi Dana,
Thank you for the explanation.
Based on the new information you provided, I believe I need to amend for 2018 tax year as well.
Below are my contributions and conversions for 2018-2020:
2018 (tax year):
- on 4/8/19: 2018 IRA contribution $5500 (received 1099-R in year 2020)
2019 (tax year):
- on 4/9/19: for 2018 Roth conversion $5500 (received 1099-R in year 2020)
- on 2/20/20: 2019 IRA contribution $6000 (received 1099-R in year 2021)
2020 (tax year):
- on 2/21/20: for 2019 Roth conversion $6000 (received 1099-R in year 2021)
- on 12/9/20: 2020 IRA contribution $6000(received 1099-R in year 2021)
- on 12/9/20: for 2020 Roth conversion $6000 (received 1099-R in year 2021)
Information:
For 2018 tax year - I filed $5500 contribution in the “DEDUCTIONS & CREDITS” section. However, I did not file “IRA, 401(k), Pension Plan Withdrawals (1099-R)” section because I did not receive the 1099-R until 2020.
For 2019 tax year – since I received the 1099-R for $5500 (suppose to be for 2018), I filed under 2019. I entered $5500 in the “DEDUCTIONS & CREDITS” and “IRA, 401(k), Pension Plan Withdrawals (1099-R)” section.
For 2020 tax year - I receive the 1099-R for $12000 ($6000 for 2019 and $6000 for 2020).
To amend 2018 and 2019 tax years plus file for 2020 tax year, I need to do the following in Turbo Tax – Please confirm.
- For 2018 tax year
- For the “DEDUCTIONS & CREDITS” section, currently it has $5500. I do not need to amend this section.
- For the “IRA, 401(k), Pension Plan Withdrawals (1099-R)” section, I do not need to amend this because I didn’t receive my 1099-R until year 2020
- For 2019 tax year
- For the “DEDUCTIONS & CREDITS” section, amend the contribution from $5500 to $6000.
- For “IRA, 401(k), Pension Plan Withdrawals (1099-R)” section, it currently has $5500. I don’t need to update this section because I am filing based on the 1099-R in received.
- For 2020 tax year
- For the “DEDUCTIONS & CREDITS” section , I need to enter $6000 that i contributed
- For the “IRA, 401(k), Pension Plan Withdrawals (1099-R)” section, I will enter the value as shown on the 1099-R for $12000.
Please confirm the corrections above are correct.
I appreciate your help!
Vincent
